Square these two sentences:
- Earlier this week, the World Bank called for urgent action to stop catastrophic global warming.
- Over the last 6 years, the World Bank has financed $12 billion worth of fossil fuel projects – the sort of thing that stokes the planetary thermometer – according to renewables energy group Desertec Foundation.
Scratching your head?
So is Desertec, the Hamburg, Germany international outfit that wants to build solar power plants in the deserts of North Africa, the Middle East, China, the U.S., Australia and elsewhere to wean the world off of fossil fuels.
The group’s director, Thiemo Gropp, has issued an open proclamation under the headline, “$12 billion in World Bank funds would be better invested in desert power than in fossil fuels.”
Read more at Solar group to World Bank: Give us gas and oil’s $12B, and we’ll cool planet
corrosiverubberducky
November 23, 2012 at 10:44 am
Reblogged this on Corrosive Rubber Ducky and commented:
I’ve been following the Desertec project recently. It seems that China may well be interested in backing the project – which is costing a total of 400bn euros – but I’m unsure if they would get a monopoly over the power produced and pumped into Europe as a result. Desertec is a great idea and power North Africa and deliver 15% of Europe’s power, so I hope they find the needed money from somewhere (Bosch, Siemens and the Spanish government have pulled their funding) but how much would it cost if we created another oligopoly in energy?